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Real Estate Glossary

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Negotiation

Dialogue between two or more people/parties intended to reach a common agreement.

Net present value method

The method used for the evaluation of investment proposals.

Net Worth

The value of a persons assets minus liabilities.

No Objection Certificate or NOC

Certificate issued by the concerned local authority that the building plans submitted by the developer are in order and conform to the guidelines. Simply put, the authority has NO OBJECTION to the commencement of construction.

Nominee

A person who acts for or represents another person.

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